The month of May is American Jewish History Month, so for this entire month I will continue share the stories of important Jewish figures in American finance. Today, I will share the story of Howard Lutnick who is the current United States Secretary of Commerce and former CEO of Cantor Fitzgerald.
Born on July 14, 1961, in Long Island, New York, Lutnick faced personal tragedy early in life. His mother passed away from lymphoma when he was in high school, and his father died from a chemotherapy overdose during his first week at Haverford College. Robert Stevens, the president of the university, offered to waive his tuition fees allowing Lutnick to continue at school where he graduated with a degree in economics.
He Cantor Fitzgerald, quickly rose through the ranks becoming CEO in 1996 at the age of 35. As CEO he invested significantly in technology, establishing an electronic trading platform.
His leadership was tested during the September 11, 2001 attacks, when Cantor Fitzgerald lost 658 employees out of their 960 employees in New York City, including his brother, Gary. Lutnick was scheduled to go into the office that day, but he had taken his son to kindergarten. In response to 9/11, he established the Cantor Fitzgerald Relief Fund, which donated $180 million to families of victims. His resilience in rebuilding the firm earned him widespread recognition.
Beyond finance, Lutnick has been deeply involved in philanthropy, supporting causes related to education, healthcare, and disaster relief. He has served on the boards of the National September 11 Memorial & Museum and Weill Cornell Medicine. In 2025, he transitioned into public service, joining the Trump administration as Secretary of Commerce, where he has been a vocal advocate for trade policies and economic growth.
On a personal note, I remember hearing Lutnick speak at the UJA Wall Street Dinner several years ago that I attended. He shared the story of how the President of his university proactively contacted him to waive his tuition fees after hearing about both of his parents passing away. Lutnick’s message to the audience was that throughout life we all have opportunities to positively change the trajectory of someone else’s life. A simple act of kindness may be a seemingly insignificant gesture to the party offering the help, but can be life altering to the person who receives that assistance, illustrating his own personal story as an example. It’s a message that has stuck with me more than a decade later.